I'm the richest member of BF and I'm not going to participate. 10 Gil per name is a lot of profit for you. It seems kind of greedy to make the minimum 10 instead of 5, and then also let people bid on them. 5 per name would be a lot by itself, and then people would still be bidding higher than that for even more profits. At least then the undesirable names wouldn't seem so expensive compared to the rest. Like DM said, that's a lot of posting for one name.
Why not make the starting bid 5, and make it so you have to bid a multiple of 5, so people don't bid 6 right after you bid 5 (which would be lame). Forcing multiples of 5 would ensure you get the highest price for each name which you possibly can. If it's worth 10, someone is going to bid against whoever says they want it.
Just a thought.